Boston woman pays $560,000 for 2 parking spots
06-14-13, 12:28 PM
#1
executive matchup
Thread Starter
Boston woman pays $560,000 for 2 parking spots
BOSTON - Parking is such a precious commodity in Boston that one woman was willing to pay $560,000 for two off-street spaces near her home.
Lisa Blumenthal won the spots in the city's Back Bay neighbourhood during an on-site auction Thursday held in a steady rain by the Internal Revenue Service. The IRS had seized the spots from a man who owed back taxes.
Blumenthal, who lives in a multimillion-dollar home near the parking spaces, tells The Boston Globe (http://b.globe.com/13KqntI ) she didn't expect the bidding to go quite so high for the spots she says will come in handy for guests and workers.
The record for a single spot in Boston is $300,000.
The median price of a single-family home in Massachusetts is $313,000.
link: http://news.ca.msn.com/odd/boston-wo...arking-spots-1
Lisa Blumenthal won the spots in the city's Back Bay neighbourhood during an on-site auction Thursday held in a steady rain by the Internal Revenue Service. The IRS had seized the spots from a man who owed back taxes.
Blumenthal, who lives in a multimillion-dollar home near the parking spaces, tells The Boston Globe (http://b.globe.com/13KqntI ) she didn't expect the bidding to go quite so high for the spots she says will come in handy for guests and workers.
The record for a single spot in Boston is $300,000.
The median price of a single-family home in Massachusetts is $313,000.
link: http://news.ca.msn.com/odd/boston-wo...arking-spots-1
06-14-13, 01:35 PM
#3
Nothing new, this is how much parking spaces worth in all major city with very expensive real estate, Hong Kong, Tokyo, Manhattan, London, Paris..........etc.
Some parking spots sold recently in Hong Kong: $166k, $288k, $385k USD each.
http://articles.latimes.com/2013/jan...ubble-20130102
Some parking spots sold recently in Hong Kong: $166k, $288k, $385k USD each.
http://articles.latimes.com/2013/jan...ubble-20130102
Last edited by BNR34; 06-14-13 at 01:46 PM.
06-15-13, 07:56 AM
#6
Lexus Test Driver
Seems like it would be cheaper to build a ramp type parking for your property. Or possibly something underground and then you can section off the spots you want and sell the rest to folks who are willing to pay half a million for parking.
06-15-13, 08:42 AM
#7
Lexus Fanatic
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wonder how they stop non-owners from parking in them? does she have to call the police every time?
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06-15-13, 12:07 PM
#8
Lexus Test Driver
06-15-13, 07:45 PM
#9
I am originally from Boston
A parking spot on Beacon Hill can be more than what she paid
The Back Bay is over built and many of the row houses have no curb cuts to the street so building down would be a non starter
Plus you have a lot of historic district constraints on changes
A parking spot on Beacon Hill can be more than what she paid
The Back Bay is over built and many of the row houses have no curb cuts to the street so building down would be a non starter
Plus you have a lot of historic district constraints on changes
06-16-13, 03:18 PM
#12
Lexus Fanatic
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